El Paso Housing Project Receives $93M Redo After Shuttering

The Ruben Salazar low-income complex in El Paso is set to receive a $93 million renovation, including development and financing costs and just over $56 million for construction. JP Morgan Chase has provided a loan of $56.8 million to help finance the project, located only blocks from the Mexican border. The property has been closed since 2019 by the El Paso housing authority (HOME), consisting of dozens of boarded-up townhouse-like buildings that have become a ghost town over time. Additionally, an award of a federally funded Community Development Block Grant worth $6.5 million was key in completing the project’s financing requirements for its expected 2½ year completion timeline.